Fraud police raid Renault

The fraud police have raided French car makers Renault, who were looking for units in the cars that might be cheating tests. Of course, we had the same thing with Volkswagen, but Renault say that there's no evidence of defeat device software in their vehicles.

They confirmed that three of their sites were visited by fraud detectives last week, and that they are cooperating fully with investigations.

CGT Renault union first reported the raids, and said that the police seized the computers of a number of the company's directors.

Even though they've said there's no evidence of any wrongdoing, the news has seen Renault's stock falling by more than 20%.

In the midst of all this, car rivals over at Peugeot threw a statement out, saying that their cars have also been tested for this cheat software, but again, there's no evidence of any such devices being found, and that they are not involved in any of these fraud investigations.

This is provisionally good news, but then, Volkswagen said that they'd done nothing wrong for a while, so this is a story to keep an eye on. If found guilty of this, there's going to be a lot of fines and compensation floating around in 2016, that's for certain.